The House of Representatives, on Tuesday, October 31, 2023, received the N2.177 trillion supplementary budget transmitted by President Bola Ahmed Tinubu for legislative approval.
The supplementary budget seeks to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N2,176,791,286,033 of which N18 billion is for Statutory Transfers, N992,802,015,985 is for recurrent (non-debt) expenditure while the sum of N1,165,989,270,049 is for contribution to the Development Fund for Capital Expenditure for the year ending on 31 December 2023.
As approved by the Federal Executive Council (FEC) on Monday, the sum of N210 billion is for wage award; N400 billion is for cash transfer to vulnerable households; while N200 billion is for Seed and Agricultural Inputs and equipment.
The sum of N100 billion is for projects in Abuja; N604 billion is for National Security and Defence; N300 billion is for the maintenance of Bridges across Nigeria; N8 billion is for Ministry Of Marine and Blue Economy and other new Ministries while N18 billion is for the conduct of elections in Kogi, Bayelsa and Imo States.
In his lead debate, Majority Leader, Hon. Julius Ihonbvere argued that the present administration “is doing its best to respond to the people’s yearning.
“We have a government that is listening. The budget is coming at a time when it is needed. Governance at the end of the day, is about people and the courage to redirect the focus of the society,” he said.
The supplementary budget was passed through Second Reading on and referred to the House Committee on Appropriation for further action.
